Colgate Palmolive (India) after market hours on Friday, 11 September 2015 said it has fixed 24 September 2015 as the record date for the purpose of ascertaining the shareholders who are eligible to receive bonus shares in the proportion of 1:1 i.e. one equity share for every one existing equity share held by the shareholders.
Maruti Suzuki India (MSIL) on Saturday, 12 September 2015, announced the introduction of two new variants: Vxi (O) and Vdi (O), of its popular premium sedan, Ciaz. The new variants, while offering all the features and attributes of the base variants Ciaz Vxi and Vdi, come with additional safety features including dual airbags, ABS, seat belt pre-tensioner & force limiters and seat belt reminder with buzzer (driver side).
Shares of Bharat Heavy Electricals (Bhel) turn ex-dividend today, 14 September 2015 for final dividend of Rs 0.62 per share for the year ended 31 March 2015.
Amtek Auto after market hours on Friday, 11 September 2015 in its clarification with regard to media reports that the company is open to sell minority stake in some overseas business said that it is considering various means to de-leverage the balance sheet including selling of noncore business, minority stake in overseas companies and some industrial real estate assets within the business. However, as on date, no negotiations are carried on, Amtek Auto said. In the past, the promoter has pumped in money in the company and if required, in future, may infuse more money in the company, Amtek Auto said.
Indiabulls Housing Finance after market hours on Friday, 11 September 2015 said that its board of directors at a meeting held on 11 September 2015, approved the floor price of Rs 738.64 per equity share for qualified institutional placement (QiP). Considering a discount of upto 5% to the floor price, the Securities Issue Committee approved the issue price of Rs 702 per share to eligible qualified institutional buyers (QIBs). The issue closed on Friday, 11 September 2015.
JK Tyre & Industries said that the Board of Directors of the company at its meeting held on Saturday, 12 September 2015, approved the acquisition of Cavendish Industries (Cavendish) from its existing shareholders, namely Kesoram Industries (Kesoram). The mentioned investment will be funded out of internal accruals. Further, the company will hold the largest shareholding block and shall have substantial management control of Cavendish, with an option to place upto 55% with its Associates/Group Companies. JK Tyre & Industries made the announcement on Saturday, 12 September 2015.
Jubilant Life Sciences announced today, 14 September 2015 that one of its wholly-owned subsidiaries, Jubilant DraxImage Inc. (DraxImage) has signed a term sheet, subject to satisfactory due diligence and execution of the Definitive Agreement and other necessary approvals, with Cyclopharm (CYC), providing DraxImage an exclusive license to market and distribute Technegas in the United States. Technegas is an imaging agent primarily used in Pulmonary Embolism (blockage of lung arteries) and is currently being sold in 55 countries including EU, Japan and Canada by CYC. The announcement was made before market hours today, 14 September 2015.
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Punj Lloyd said that to overcome the current short term financial constraint on account of losses suffered in its projects, Punj Lloyd Pte (PLPL) and Sembawang Engineers and Constructors Pte (SEC) subsidiaries of Punj Lloyd in Singapore have filed an application seeking approval of the Singapore High Court to enter into a Scheme of Arrangement with their respective Creditors pursuant to the applicable provisions of the Singapore Companies Act. On its approval, PLPL / SEC will get time to settle the outstanding obligations with its creditors. During this period any legal proceedings filed by the creditors against PLPL/SEC or any actions there under shall be restrained forthwith. No fresh proceedings can be filed during the scheme period, Punj Lloyd said. PLPL/SEC shall be completely released and discharged from its liabilities/ obligation and all legal cases withdrawn upon the respective creditor receiving the full benefits entitled under the respective scheme, the company said. The announcement was made on Sunday, 13 September 2015.
Manali Petrochemicals said that a Memorandum of Understanding has been entered into with the Government of Tamil Nadu to invest upto Rs 500 crore over the next three to five years in projects for expansion of the Polyol capacity and a Power project with the facilitation and support from the Government. The announcement was made after market hours on Friday, 11 September 2015.
Borosil Glass Works said that the Board of Directors of the company at its meeting held on 11 September 2015, unanimously approved a buyback proposal for purchase by the company of upto 6.96 lakh shares of Rs 10 each (representing 23.15% of the total equity capital), from all the shareholders of the company on a proportionate basis through the "Tender Offer" route as prescribed under the Securities and Exchange Board of India (Buy-Back Regulations), 1998 (the Buyback Regulations) at a price of Rs 2500 per share, aggregating to Rs 174 crore in accordance with the provisions of the Companies Act, 2013 and the Buyback Regulations (the Buyback). The Board noted the intention of the one of Promoter entities of the company to participate in the proposed Buyback, Borosil Glass Works said. The announcement was made after market hours on Friday, 11 September 2015.
Jaiprakash Power Ventures on Saturday, 12 September 2015 said that the company's 400 megawatts (MW) Vishnuprayag hydro power plant, which was temporarily shut down with effect from 25 June 2015, has resumed power generation with effect from 11 September 2015. The company's Vishnuprayag hydro power plant was earlier shut down due to heavy rains and storm in Uttarakhand resulting in unprecedented flood in river Alakhnanda leading to excessive silt and debris at Barrage.
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